October 19, 2017 / 9:57 AM / a year ago

BUZZ-Street View: KMI benefits from NatGas pipelines, limited Harvey impact

** Pipeline operator Kinder Morgan Inc’s Q3 revenue edged past analysts’ estimates, as a rise in natural gas volumes offset the impact of Hurricane Harvey and loss of revenue from the divestiture of its Canadian assets

** Q3 revenue fell 1.5 pct, partly because of Hurricane Harvey

** Stock up ~1 pct premarket

NATURAL GAS PIPELINES FUEL BEAT

** Jefferies (rating: ‘hold,’ PT: $20) says co’s natural gas pipelines segment benefited from its Tennessee Gas Pipelines and completion of expansion projects like Elba Express and El Paso Natural Gas location

** Barclays (rating: ‘overweight,’ PT:$23) says the natural gas pipeline unit and product pipelines were the largest beats vs its estimates as KMI fared better in Gas & Power and Kinder Morgan Crude and Condensate (KMCC)/Double Eagle operations

** Morgan Stanley (rating: ‘overweight,’ PT: $24) says KMI’s in-line quarter saw positives from Gulf Coast Express and also possible delay in Trans Mountain pipeline expansion (TMX)

** MS expects 2018 guidance, Gulf Coast Express project, and a first quarter dividend increase with any TMX or energy sentiment uplift to be supportive for KMI

Reporting by Geetha Panchaksharam in Bengaluru; Editing by Bernard Orr

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